COMPANIES

More than £2BN investment makes Milton Park a honeypot

Companies based on Milton Park have cumulatively secured £2.14 billion of equity investment, new research has revealed.

The findings, uncovered by high-growth insights firm Beauhurst, show that life science companies at Milton Park, located between Abingdon and Didcot which is one of the largest science and technology destinations in the UK, secured an impressive 7.56 per cent of the UK’s total equity investment in the sector, equating to £953 million. In 2021 alone, £842 million in investment was generated, with the pioneering T-cell receptor biotech Immunocore raising £189 million, followed by £226 million for drug discovery company Exscientia, both of which are listed on the New York-based NASDAQ stock exchange.

The green energy sector also attracted major investment, including fusion energy technology firm Tokamak Energy and battery technology specialist Nexeon. Since 2013, a total of £136 million equity investment has been secured by Milton Park companies working in the green energy sector, while £18.4 million worth of grants have also been awarded.

Further analysis shows that of the 57 high-growth companies based at Milton Park, 12 have spun out from academic institutions. The most popular sectors for high-growth companies include pharmaceuticals and technology, featuring established companies such as AI and predictive software company OBS Medical and global environmental consultancy APEM alongside venture stage firms, such as patient data capture software company Isansys Lifecare.

The latest Beauhurst figures show that the combined turnover from companies at Milton Park reached £10.8 billion, while £68.3 million of grant funding was secured over the past 10 years.

The value of clustering

The celebrated 19th century British economist Alfred Marshall was apparently the first person to identify the value of business clusters.

His theory went that concentrating key industry sectors in specific regions boosted economic activity and therefore productivity, drew more highly skilled workers attracted by a wider choice of employers, facilitated the exchange of goods and ideas, promoted competition and cooperation and supported industry.

High volumes of firms in proximity encourage companies to invest more in innovation because of the increased competition. These innovations in turn increase the levels of knowledge in the region.

Philip Campbell, Commercial Director at MEPC Milton Park, said: “The Oxfordshire cluster has an impressive range of innovative companies, a rich history and great access to world class universities, talent and infrastructure. It remains one of the fastest growing economies across the UK, with degree level qualifications and employment rates far higher than the national average.

“Using these foundations, our 2040 Vision will see Milton Park grow to more than four million sq ft, supporting the Golden Triangle